International Hotel Investments plc - Update on Voluntary Bid

On 3 August, International Hotel Investments plc (IHI) issued an update on the Voluntary Public Bid for the acquisition of the entire issued share capital of Island Hotels Group Holdings plc (IHG).

The announcement explained that at the closing of the acceptance period last Friday 31 July, IHI received acceptances from shareholders of IHG who in aggregate hold 99.68% of the entire issued share capital of IHG. Shareholders holding 96.88% of the shares of IHG opted for the Combined Consideration whilst others holding 2.8% of the shares of IHG opted for the Cash Alternative.

As a result, all the conditions of the Bid have now been met and therefore the Bid is unconditional. Furthermore, IHI reiterated its intention to acquire all the remaining shares in IHG in accordance with the Listing Rules. Further details in this respect will be announced in due course.

The transfer of ownership in respect of the shares in IHG and the settlement by IHI will be publicly announced through the Malta Stock Exchange. On acquiring all the shares in IHG, IHI will be applying for the delisting of the IHG shares.